Vector Group Ltd (NYSE:VGR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $13.91 and last traded at $13.82, with a volume of 16845 shares changing hands. The stock had previously closed at $13.63.
A number of research firms recently issued reports on VGR. Zacks Investment Research upgraded Vector Group from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research note on Friday, November 8th. ValuEngine downgraded Vector Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday.
The stock has a market capitalization of $1.99 billion, a PE ratio of 25.13 and a beta of 0.74. The business’s fifty day moving average price is $12.20 and its 200-day moving average price is $11.10.
Vector Group (NYSE:VGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.10. Vector Group had a net margin of 5.83% and a negative return on equity of 21.00%. The firm had revenue of $504.79 million for the quarter, compared to analysts’ expectations of $526.50 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts expect that Vector Group Ltd will post 0.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.47%. The ex-dividend date is Monday, December 16th. Vector Group’s dividend payout ratio is currently 290.91%.
A number of institutional investors have recently made changes to their positions in the business. JS Capital Management LLC boosted its holdings in shares of Vector Group by 14.0% in the 3rd quarter. JS Capital Management LLC now owns 28,381 shares of the company’s stock worth $338,000 after purchasing an additional 3,481 shares in the last quarter. Metropolitan Life Insurance Co NY raised its holdings in shares of Vector Group by 10.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 36,070 shares of the company’s stock valued at $430,000 after buying an additional 3,532 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Vector Group during the 3rd quarter valued at about $650,000. Squarepoint Ops LLC bought a new stake in Vector Group in the 3rd quarter worth approximately $2,153,000. Finally, Barclays PLC lifted its position in Vector Group by 21.2% in the 3rd quarter. Barclays PLC now owns 142,142 shares of the company’s stock worth $1,694,000 after buying an additional 24,896 shares during the last quarter. Institutional investors and hedge funds own 61.03% of the company’s stock.
About Vector Group (NYSE:VGR)
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes in 109 combinations under the Pyramid, EAGLE 20's, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.
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